Financial institutions have been warned by the Joint Admissions and Matriculation Board not to sell the 2021 Unified Tertiary Matriculation Examination (UTME) forms (ePIN) above N3,500.
Candidates are expected to pay financial institutions N3,500 for ePIN and N500 for the books they will use for the examination, totaling N4,000.
The board also requested all financial institutions to ensure that all ePINs are transferred electronically to the candidates to ensure that they don’t face any hardship.
The board further stated that it would not accept handwritten ePINs from any financial institutions to avoid mistakes while writing it.
Banks are expected to get 30,000 ePINs from the board while microfinance banks and other payment platforms will get 10,000 ePINs through the board.
These announcements were made by the JAMB Registrar, Prof. Is-haq Oloyede at a meeting with representatives of financial institutions ahead of the sale of ePINs next month.
Oloyede warned that any financial institution caught selling the ePIN above the stipulated price would be de-listed and prosecuted.
He said: “ePIN will be sold at N3,500 to the candidates but what comes to JAMB is N3,290 because as you, our partners (financial institutions) retain N210. But what you collect from the candidates is actually N4,000 because N500 that belongs to the book vendors you help us collect.
“In the past, these book vendors would collect their money and they wouldn’t even pay the token they were paying to us. In some cases, they were selling the books beyond the prescribed price.
“When candidates were frustrated, they would buy the books at between N1,000 and N2,000. That is why we insisted they must sell the books through us. We collect their money for them (vendors) and ensure that it is from us they will collect their money.”
“Cost of ePIN and the book remains N4,000. That is why we have now made your six per cent commission to be N210. We are the one paying the commission on behalf of book vendors because they are collecting their money in full, but we are paying. It pays us better.
“You (financial institutions) will be responsible for the activities of your agents. We will not want to listen to the fact that ‘Oh, it is my agent; I am not the one.’ Once your agent commits an infraction, it is assumed that you have committed it because your agent represents you in law. Whatever your agent does, he has done it on your behalf.
“Make sure your agents do not extort our candidates. You know we have zero tolerance for extortion. The forms must not be sold one kobo above N3,500. That is, you must not take a kobo above N4,000. Any kobo above N4,000 is a violation, which we will not tolerate.
“You know all of us in Nigeria are complaining everybody is bad. But if everybody should take care of its own corner of the table, Nigeria will be better for us all.”
The registrar also warned banks and its agents against extortion and hoarding of the forms.
According to him, some financial institutions deposited N3 billion with JAMB in the past and sold the forms at a higher price.
He said the board would not tolerate such going forward.
Oloyede said: “We have no tolerance at all for any type of extortion and hoarding. In the past, some financial institutions used to buy; they would just come and deposit N3 billion with JAMB and they would be hoarding the forms and be selling it at any amount they liked. That, we have come to put an end to.
“Having done so by democratisation, we also believe that despite the fact that you make money, you must be satisfied with the fact that you are rendering service to this great nation, particularly these young boys and girls who are our future.
“Therefore, they should not be exploited because exploiting them is not just about the money you get from them, but you are indoctrinating them into the culture of corruption. And if a candidate should go and buy N4,000 form at N4,500, you are already indoctrinating him and inviting him that it is the Nigerian way of doing things.
“So, it is not about the little money you illegally make but about the damage to the system, the damage to the training platform we are providing for this. We must develop these young boys and girls in such a way that the right way to do anything is to do it the right way. Any cutting corners that we may think are just for us to make more money are doing incalculable damage to the future of this country.
“Therefore, if you view it from this angle, you will then understand why we are very sensitive about any exploitation of these candidates. We are pleading with you that for the sake of this country, for the sake of this nation and future of everyone of us, we must not allow and we must not tolerate any extortion.
“We will not protect anybody. Any institution or agency that doesn’t present itself as an institution of integrity, JAMB will not hesitate to drag the institution and the person behind it into what he/she wants to drag himself/herself to into the mess.”